History Chat - August 27, 2020

Link to Video

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Summary:

Timestamp 3:22: Under Reagan Republicans tried to  create a new government in place to replace what was in place since the New Deal.  A New republican party, which split after WW2, was called the Movement conservatives wanted to get rid of New Deal and regulations and let business people run things to usher in a new economy. Their ideology in the beginning was honest, but as time went on, it was very self serving and contradictory.

Timestamp 7:47:Movement conservatives want to take America back to 1920 and are leveraging racism to convince voters that the basic social safety net that is backed by government  money is going from white taxpayers to African Americans. His language focused on Government is not the answer and focusing on state rights to facilitate the Movement conservatives agenda and make it the centerpiece of the Republican party.

Timestamp 9:25: Toxic individualism is focused on the American cowboy, which represents the “reconstruction”. This is a throwback to after the civil war when the West  claimed the East was socialist for leveling the playing field between African Americans and white men. Reagan picked up the cowboy imagery speaking up against activist government that has interest in regulating business and providing social programs.

Timestamp 15:48:Reagan doctrine changes our foreign policy rather than stopping communism to push it back against it. During Nicaraguan conflict Regan is concerned this will spread communism into Central America. They began to fund a Coup Group called the Contra’s, which congress later stopped funding.

Timestamp 18:44: Lebanese terrorists were being backed by Iran and kidnapped Americans and held them hostage. It was suggested by Israel that if Americans sold Arms to Iran it would sway them to put pressure on the Lebanese to end the hostage Crisis. It was illegal to sell arms to Iran at the time, although eventually they were sold and it made no difference. This is later revealed to the public, which showcased the toxic individualism. Individuals were later indicted for their involvement, & George H.W. Bush and Bill Barr are associated with it.

Timestamp 31:39: Great compression between 1933 - 1981 income compress in 1981 it Great Convergence (expansion). Wealth begins to move upwards and they believe it's helping the little people but it's the opposite. 1975- 1980 private wealth grew 31%, contradictory to him painting those as “horrible economic years” and in 1983-1988 grew 8 % economy growing slower. During this time, household debt rises. Republicans claim to be blocking special interest groups and federal taxes not rise, but to compensate state taxes go up to fund Federal interests. This is proved by the fact that the top 1% in 1979 20.5% of the wealth, whereas in  1989 (Reagan Era) they held 35.7%. During this time the budget is not balanced and we moved from a creditor nation to a debtor nation.

Timestamp In 40:50: Savings and loan institutions crash, investment bankers crash, privatizing profits fails. World belongs to the incredibly wealthy. In 1987 stock market crashes, and power of wealth transferred from the US to Pacific areas. Movement conservatives see Reagan's actions as not having gone far enough rather than not being effective.

Timestamp 57:09 : Newt believed he could put Republicans back in charge of Congress for the first time since the 50’s by getting rid of traditional, moderate republicans and replace them with Movement conservatives.